News & Events

  • Excise hike on petrol, diesel to enrich exchequer by Rs 10,000 crore

    The recent hike in excise duty on petrol and diesel, which has happened three times this fiscal year, will help the government to collect an additional Rs 10,000 crore. The increase in earnings will benefit the government to maintain a fiscal deficit at 3.9 per cent of GDP in current financial year ending March 2016. […]
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  • Excise benefits for industrial units in North East to continue

    The Union Finance Ministry has clarified that industrial units in the northeastern states will continue to get central excise exemptions under the North East Industrial and Investment Promotion Policy (NEIIPP) even if they are not registered under the scheme. Doubts had arisen on the eligibility of the excise benefits after the Department of Industrial Policy […]
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  • Government eases penal provisions for excise offences

    In a bid to reduce harassment of overseas travellers, the government today eased the penal provisions by raising the monetary limits for arrests and prosecution of offenders under acts including Central Excise, Customs and Service Tax. Also, the procedure for arrest and sanction of prosecution has been revised and specified with adequate safeguards to ensure […]
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